CISI International Certificate in Wealth & Investment Management ICWIM Question # 17 Topic 2 Discussion

CISI International Certificate in Wealth & Investment Management ICWIM Question # 17 Topic 2 Discussion

ICWIM Exam Topic 2 Question 17 Discussion:
Question #: 17
Topic #: 2

An investor deposits £1,000 into an account that pays interest at the rate of 3% per year. If the interest is credited to the account at the end of the year and the investor leaves the money in the account for 5 years, how much money will be in the account at the end of the fifth year?


A.

£1,150.00


B.

£1,157.63


C.

£1,159.27


D.

£1,276.28


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